Quantbot Technologies LP Takes $657,000 Position in Asbury Automotive Group, Inc. $ABG

Quantbot Technologies LP purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,268 shares of the company’s stock, valued at approximately $657,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new stake in shares of Asbury Automotive Group in the fourth quarter valued at approximately $25,000. Torren Management LLC acquired a new position in shares of Asbury Automotive Group in the 4th quarter valued at $27,000. Quarry LP increased its holdings in shares of Asbury Automotive Group by 319.2% in the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 83 shares during the period. Bogart Wealth LLC raised its position in Asbury Automotive Group by 52.4% in the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in Asbury Automotive Group by 69.2% in the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock valued at $31,000 after purchasing an additional 54 shares during the last quarter.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $210.47 on Friday. The firm’s fifty day moving average price is $213.70 and its 200 day moving average price is $205.57. Asbury Automotive Group, Inc. has a 1-year low of $172.01 and a 1-year high of $263.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.91 and a quick ratio of 0.29. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 0.81 and a beta of 0.71.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $6.82 EPS for the quarter, topping analysts’ consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.72%. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the firm earned $7.43 EPS. Asbury Automotive Group’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts expect that Asbury Automotive Group, Inc. will post 26.43 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABG. Stephens reissued an “overweight” rating and set a $242.00 price objective on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. reduced their target price on shares of Asbury Automotive Group from $220.00 to $190.00 and set an “underweight” rating for the company in a report on Tuesday, August 4th. UBS Group set a $250.00 target price on shares of Asbury Automotive Group in a research note on Wednesday, July 29th. Citigroup raised their price target on Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Barclays boosted their price target on Asbury Automotive Group from $225.00 to $265.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $246.71.

Insider Buying and Selling at Asbury Automotive Group

In other news, SVP Jed Milstein sold 948 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total transaction of $237,265.44. Following the transaction, the senior vice president directly owned 11,259 shares in the company, valued at $2,817,902.52. The trade was a 7.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.75% of the stock is currently owned by insiders.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.